Tuesday, September 12, 2017

2-Sided Trading Strategy | Crude Oil, Emini, Nasdaq, Gold & Euro



"The remarkable thing we have is a choice every day regarding the attitude we will embrace for that day. We cannot change our past... We cannot change the fact that people will act in a certain way. We cannot change the inevitable. The only thing we can do is play on the one string we have, and that is our attitude."


Crude Oil is bullish with a Spike & Wedge ahead of tomorrow’s weekly inventory report, which tells us to look for buying opportunities as early as possible so we don’t get chopped-up around the news.

S&P is bullish and trying to finish the measured-move, and how they finish this move will tell us is this is a channel or a Trading-Range strategy for tomorrow.

Nasdaq is bullish with a Spike & Channel, but a major resistance level on the chart is telling us to look for a possible range tomorrow, which will require us to adjust our plans accordingly.

Gold has opportunity on both sides for tomorrow.  Sellers have a flag pattern and they will look to “fade” this move back down again, while the buyers will be waiting down in the ‘battle zone’ tomorrow.

Euro is bearish and trading sideways, and I’m using a short-term bull Spike & Channel to help plan my trades for Wednesday.


Crude Oil Trading Strategy
Crude Oil is bullish with a Spike & Wedge, and a hidden Spike & Channel ahead of the weekly inventory report tomorrow morning.

The bull wedge always tells me to focus on “traps” and seller-failures below prior swings, with a target going back to the high.

The big challenge for tomorrow is getting into those trades before the price-action slows down around 10am EST, so set your reminder, stay disciplined, and grab the high percentage trades when you get them.

Crude Oil Inventory (S/R) For Wednesday:
49.14, 48.79, 48.44, 48.09, 47.74, 47.39

E-Mini S&P Trading Strategy
E-Mini S&P is bullish with a rather methodical channel going higher today.

The buyers are trying to finish the measured-move, and if they do, I’m looking for a ‘2-legged pullback’ off the highs before looking for more buying opportunities tomorrow.

If the bulls FAIL to finish this measured-move, we have to assume these sluggish higher-highs are a sign of a Trading-Range, which tells me to stay patient for a much deeper pullback, possibly back to the prior month high, before buying more tomorrow.


E-Mini Nasdaq Trading Strategy
E-Mini Nasdaq is bullish with a Spike & Channel, but this prior month high requires us to wait for a little more information before we can plan our trades for tomorrow.

The big question is whether this Spike & Channel will continue, or if we will end up trading sideways into a range.

Look for price to successful rotate back to the Spike & Channel high, and if it does, then we look for buying opportunities down at the low of the channel.

If the buyers cannot finish that rotation, getting stuck at this prior month high, then we go into a range, and our goal is to look for buying opportunities down near the low of the range using failures and the '2-Try Rule'.


Gold Trading Strategy
Gold is giving us both buying and selling opportunities for tomorrow.

If you recall, we gapped-down to start the week, and this recent “spike” higher is most likely going to be seen as a selling-opportunity for the bears, with a target going back down to re-test the lows tomorrow.

At the same time, you can see this new bull channel (bears will call it a “flag”), and we are “overshooting” through the highs, which means the buyers need to stay patient for rotation back to the lows tomorrow.

Sellers will want to use the '2-Try Rule' to look for selling-opportunities back down again, with the buyers looking for a deep ‘2-legged pullback’, down into the ‘battle zone’ tomorrow.

Euro Trading Strategy
Euro is bearish and trading at the high of a long-term bear channel, but this short-term bull Spike & Channel is telling us to be careful not to get caught in an easy trap tomorrow.

Today’s session basically went sideways.  It didn’t have double-tops or double-bottoms but it ended where it began.  When you put this in context, this is nothing more than a bearish market into a Trading-Range.

Knowing that information, my plan for tomorrow is to look for selling-opportunities up above today’s highs, using the '2-Try Rule' to focus on failures selling back down again.


If you’re looking for some adventure tomorrow, you could also look for buying opportunities in the bullish ‘battle zone’ as well, which is simply buying the dip using this Spike & Channel.

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